20 March 2018
The use of trusts is under attack in a number of European jurisdictions, and the OECD's Common Reporting Standard poses significant further threats to their use.
In this article we look at the reporting rules of the CRS, including in comparison with FATCA, and argue that a more balanced application of the CRS can be achieved with regards to trusts if there is urgent dialogue with the OECD and EU. We also argue that the CRS poses a major threat to privacy and data protection rules, and indeed threatens basic human rights in important areas.
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